At its Board meeting yesterday, the Reserve Bank announced it would take a ‘wait and see’ approach to rates.
The decision means the cash rate will be left on hold at 1.5% for another month.
While the Board has made the decision to leave the cash rate untouched this month, future rate cuts this calendar year cannot be ruled out.
Regardless of what happens over the next few months it is important for buyers and owners of property to remember that interest rates continue to sit at historical lows.
If you have been thinking about buying, now could be the perfect time to do so.
If not buying, then your home loan probably needs a Health Check.
Call me on 0421 240 129 for assistance with purchasing or for a Home Loan Health Check.